NOTICE OF INTENTION TO APPLY TO THE FEDERAL COURT FOR CONFIRMATION OF SCHEME UNDER DIVISION 3A OF PART III OF THE INSURANCE ACT 1973 (CTH) TO TRANSFER THE INSURANCE BUSINESS OF GENERAL REINSURANCE AG (AUSTRALIAN BRANCH) TO GENERAL REINSURANCE AUSTRALIA LTD
Notice is given that General Reinsurance Australia Ltd ABN 16 008 427 450 (GRA) proposes to make an application to the Federal Court of Australia seeking confirmation of a scheme under Division 3A of Part III of the Insurance Act 1973 (Cth) to transfer all of the insurance business of the Australian Branch of General Reinsurance AG ABN 58 001 122 130 (formerly known as Kolnische Ruckversicherungs-Gesellschaft or Cologne Re Australia) (GRAG) to GRA.
Each of GRAG and GRA is part of the General Reinsurance group of companies and the scheme is being undertaken as part of an internal reorganisation of the group.
As a consequence of the scheme, GRA will be substituted for GRAG under policies issued or underwritten by GRAG.
The date fixed for the hearing of the application is 28 November 2014 at 10:15am or on such other date as the Court appoints. The hearing will be held at the New South Wales Registry of the Federal Court of Australia which is located at the Law Courts Building, Queens Square, Sydney NSW 2000.
Any policyholder who may be affected by the scheme can ask, to be heard by the Court on the application for the confirmation of the scheme.
It is important that policyholders affected by the scheme take notice of the scheme and consider whether they wish to attend the hearing. If a policyholder wishes to be heard at the hearing, it would assist if you let Dean Carrigan of Clyde & Co Australia know (by phone: 02 9210 4400 or email: dean.carrigan@clydeco.com) at least 3 days before the date fixed for hearing.
Copies of this notice, the scheme, a summary of the scheme and the actuarial report on which the scheme is based are accessible on www.genre.com. Copies of these documents will also be available for inspection by affected policyholders between 7 October 2014 to 30 October 2014 (inclusive), between 9:00am and 5:00pm (local time) Monday to Friday (other than public holidays) at the following addresses:
New South Wales General Reinsurance Australia Ltd Level 20, 1 O’Connell Street Sydney NSW 2000
| South Australia Deloitte 11 Waymouth Street Adelaide SA 5000
|
Victoria General Reinsurance Australia Ltd Level 5, 520 Collins Street Melbourne VIC 3000
| Tasmania Deloitte Level 8, 22 Elizabeth Street |
Queensland Deloitte Level 25&26, 123 Eagle Street Brisbane QLD 4000 | Australian Capital Territory Deloitte Level 1, 9 Sydney Avenue Barton Canberra ACT 2600
|
Western Australia Clyde & Co Australia Level 28, 197 St Georges Terrace Perth WA 6000 | Northern Territory Deloitte Level 11, 24 Mitchell Street Darwin NT 0800
|
A policyholder affected by the scheme may also obtain a copy of the scheme free of charge by contacting Mr Herman Beukes, Chief Financial Officer, GRA by calling 02 8236 6167.
If a policyholder has any questions in relation to the scheme or any information contained in this notice, please contact Mr Herman Beukes, Chief Financial Officer, GRA by calling 02 8236 6167.